CS-DRMS / Debt Statistics Adviser recruitment
The burden of servicing public debt in developing Commonwealth countries in Africa, and the small (island) states spread across the Indian Ocean, South Asia, the Caribbean and the South Pacific is a major constraint to their progress towards the Millennium Development Goals. Effective public debt management, aimed at minimising long term debt servicing cost and achieving sustainable debt, will ease the financial constraint that debt servicing has on countries.
The Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) is currently used by 60 countries worldwide as the central repository for recording debt and grant data. The main categories of debt maintained in the software include public and publicly guaranteed external debt; domestic debt; private sector debt; and government lending and on-lending. Over the past 10 years most CS-DRMS countries have made marked progress in building comprehensive CS-DRMS debt databases for the external debt portfolio with support from the Commonwealth.
The countries are now focusing their effort to build an integrated public debt database by developing the domestic debt database in CS-DRMS with the objective of undertaking strategic debt management and also to improve the reporting and dissemination of public debt statistics. In recent years, the software has also undergone a series of enhancements to take into account changes in debt management practices; global debt initiatives; change in creditor practices; and changes in information technology. These developments and staff training needs in debt offices in member countries require sustained assistance to build capacity for the effective use of the software modules and new features, and to build and maintain the high quality database essential for active debt management.
Against this background the Commonwealth Secretariat has approved a project providing for the recruitment of three CS-DRMS / Debt Statistics Advisers for a three year term to be deployed in the Commonwealth regions of Africa, Asia, Caribbean and Pacific with the objective of complementing the work on debt management of the Secretariat Headquarters staff.
Purpose of the project
To assist developing member countries in the Caribbean, East and Southern Africa, West Africa, the South Pacific and South Asia regions in strengthening their debt management capacity -including sub-national debt management- through effective use of CS-DRMS, appropriate reforms on debt management and adoption of prudent debt management policies and strategies. In doing so, this project will develop a pool of sophisticated, locally based debt managers to drive and implement reforms in public debt management and effectively manage the largest financial balance sheet of a country on a sustainable basis.
Scope of work
Working closely with the Commonwealth Secretariat Advisers and under the supervision of the designated official at the host institution, the Adviser (Debt Statistics) will be expected to undertake a number of activities, primarily within the designated region. The key job responsibilities will include the following: developing capacity in various institutions through advice and hands-on training in countries using the CS-DRMS and other debt management systems for effective recording; compilation and maintaining public debt databases at the central government and, where applicable, at state government levels; provide support to member countries to enhance compliance with debt data methodology and quality standards; assist countries undertake debt portfolio analysis and develop debt statistics bulletins; and support international dissemination of debt statistics through the IMF and World Bank. The job will involve intensive travel to member countries within the designated region and also to other Commonwealth regions.
Task description
The post-holder will be required to:
- Assist governments of member countries using CS-DRMS to strengthen institutional arrangements for the efficient flow and exchange of information between relevant agencies/units responsible for debt management;
- Advise countries on appropriate record keeping and management of information relating to debt agreements, payment notices, disbursements, receipts etc;
- Formulate procedures and manual for installing, operating and maintaining the CS-DRMS in relevant agencies (Ministries of Finance, Central banks, Debt Management Offices etc.);
- Assist CS-DRMS sites prepare procedural guidelines detailing the data flow and controls for maintaining the quality of debt data;
- Assist governments in building a single CS-DRMS public debt database;
- Review, update and validate the debt database in CS-DRMS to ensure comprehensive coverage and, high quality in being with international standards and best practices, including the IMF’s Guide on External Debt Statistics and Public Debt Statistics;
- Review the process in each country for collecting, recording and reporting debt information, with a view to establishing and/refining procedures for information flows to internal and external users of debt data;
- Develop CS-DRMS training material and organise and act as resource person/trainer at in-country / regional / pan-Commonwealth workshops ;
- Provide hands-on training on interpretation of loan agreements; debt instruments; and debt restructuring for compilation of debt data in CS-DRMS;
- Train staff of the relevant departments and agencies to use CS-DRMS for portfolio review and reporting of debt statistics;
- Train staff and advise institutions to develop a debt bulletin disseminating comprehensive information on debt portfolio and debt management;
- Promote the dissemination of debt statistics under the aegis of IMF and World Bank, specifically the World Bank Debtor Reporting System, World Bank Quarterly External Debt Statistics, IMF Special Data Dissemination Standards; IMF General Data Dissemination System; World Bank Public Sector Debt Database;
- Contribute to the development of the CS-DRMS by collating and documenting user requirements and enhancement requests for submission to the Secretariat ;
- Work in consultation with Commonwealth Secretariat Advisers in implementing future versions of CS-DRMS;
- Contribute to the contents of the CS-DRMS website;
- Provide periodic reports to the host institution and also to Debt Management Section in the Commonwealth Secretariat.
Person specification
Education:
- A degree in Economics, Finance, Statistics, Information Systems/Technology or similar discipline.
Experience:
- A minimum of 10 years of practical experience gained working in the area of public debt management in government or international organisations;
- At least five years’ experience in the area of debt statistics and on the operations and functions of CS-DRMS;
- Good working knowledge of the different functions of CS-DRMS 2000+ version 1.3